Effects of Tariff MCQ with Answers PDF Download – Test 20

MCQ 96: The restriction on trade by increasing the price of imports of one's country is known as:

1. trade
2. tax
3. tariff
4. embargo

MCQ 97: In welfare economics, the concept that refers to a decision rule used to select between pairs of alternative feasible social states is known as:

1. compensation principle
2. lump sum principle
3. first order principle
4. second order principle

MCQ 98: The volume of trade expands at the same rate as output only when production and consumption are:

1. anti-trade
2. pro-trade
3. zero
4. neutral

MCQ 99: Taxes that are imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff is called as:

1. property tax
2. corporate tax
3. payroll tax
4. employee tax

MCQ 100: The nature of costs occur low when the two factor of production and trade are both mobile i.e.:

1. labor and capital
2. capital and organization
3. labor and building
4. machines and labor